MMCAP International Inc. SPC Reports New Stake in HIVE Digital

TL;DR

**MMCAP International just bought into HIVE Digital, a bullish signal for the crypto miner!**

AI Summary

MMCAP International Inc. SPC, a Cayman Islands-based entity, reported acquiring a significant stake in HIVE Digital Technologies Ltd. (formerly HIVE Blockchain Technologies Ltd.) as of December 28, 2023. This SC 13G filing indicates that MMCAP International Inc. SPC now holds a notable position in HIVE's Common Shares, signaling their belief in the company's future. For investors, this means a large institutional investor has taken a bullish stance, which could be seen as a vote of confidence in HIVE's digital asset and blockchain operations.

Why It Matters

A new institutional investor, MMCAP International Inc. SPC, has disclosed a significant holding in HIVE Digital Technologies, potentially signaling increased institutional interest and confidence in the company's stock.

Risk Assessment

Risk Level: low — This filing indicates a new institutional investor, which is generally a positive sign and does not inherently increase risk for existing shareholders.

Analyst Insight

A smart investor would research MMCAP International Inc. SPC's investment thesis and consider HIVE Digital Technologies Ltd.'s fundamentals and future prospects, especially given this new institutional endorsement.

Key Players & Entities

• MMCAP International Inc. SPC (company) — the reporting person acquiring shares
• HIVE Digital Technologies Ltd. (company) — the subject company whose shares were acquired
• Cayman Islands (company) — place of organization for MMCAP International Inc. SPC
• December 28, 2023 (date) — date of event requiring the filing
• 433921103 (number) — CUSIP number for HIVE Digital Technologies Ltd. Common Shares

Forward-Looking Statements

• Other institutional investors may follow MMCAP International Inc. SPC's lead and increase their positions in HIVE Digital Technologies Ltd. (HIVE Digital Technologies Ltd.) — medium confidence, target: Q2 2024

FAQ

Key Financial Figures

• $6.00 — Warrant Share ”) at a price of CAD$6.00 per Warrant Share until December 28, 20

Filing Documents

• tm242072d1_sc13g.htm (SC 13G) — 44KB
• tm242072d1_ex1.htm (EX-99.1) — 4KB
• 0001104659-24-001690.txt ( ) — 50KB

If this statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b)

Item 3. If this statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); (f) An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); (g) A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G); (h) A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) A non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J); (k) Group, in accordance with §240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J), please specify the type of institution: __________________ Page 4 of 8 Pages

Ownership

Item 4. Ownership. See Items 5-9 and 11 on the cover page for each Reporting Person, and Item 2, which information is given as of the close of business on the Event Date of December 28, 2023 and remains accurate as of the close of business on January 5, 2024, the date of filing of this Schedule 13G. The 6,860,520 Common Shares reported are issuable upon the exercise of warrants as follows: (x) listed warrants to purchase 1,231,770 Common Shares; and (y) 3,752,500 “ Special Warrants ”. Each Special Warrant generally entitles the holder thereof to receive, without payment of additional consideration, one (1) unit of the Issuer (each a “ Unit ”) upon the exercise or deemed exercise of each Special Warrant. Each Unit shall consist of one (1) Common Share and one-half (0.5) of one (1) Common Share purchase warrant (each whole Common Share purchase warrant, a “ Warrant ”). Each Warrant entitles the holder thereof to purchase one (1) Common Share (a “ Warrant Share ”) at a price of CAD$6.00 per Warrant Share until December 28, 2026. The Special Warrants are exercisable by the holders thereof at any time for no additional consideration. All unexercised Special Warrants shall be deemed exercised on behalf of, and without any required action on the part of, the holders (including payment of additional consideration) no later than April 29, 2024. Further details on the Special Warrants may be found in the Issuer’s Form 6-K filed with the Securities and Exchange Commission on December 28, 2023. The percentages of beneficial ownership contained herein are based on: (x) 87,630,617 Common Shares outstanding as of November 10, 2023, as reported in the Issuer’s Form 6-K filed with the SEC on November 13, 2023; and (y) 6,860,520 Common Shares issuable upon exercise of the warrants described above.

Ownership of Five Percent or Less of a Class

Item 5. Ownership of Five Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following:

Ownership of More than Five Percent on Behalf of Another

Item 6. Ownership of More than Five Percent on Behalf of Another Person. Not applicable.

Identification and Classification of the Subsidiary Which

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. Not applicable.

Identification and Classification of Members of the Group

Item 8. Identification and Classification of Members of the Group. Not applicable.

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group. Not applicable. Page 5 of 8 Pages

Certification

Item 10. Certification. (a) Not applicable. (b) Not applicable. (c) By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §240.14a-11. Page 6 of 8 Pages SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: January 5, 2024 MMCAP International Inc. SPC By: /s/ Ulla Vestergaard Name: Ulla Vestergaard Title: Director MM Asset Management Inc. By: /s/ Hillel Meltz Name: Hillel Meltz Title: President Page 7 of 8 Pages EXHIBIT INDEX Exhibit No. Document 1 Joint Filing Agreement Page 8 of 8 Pages

View Full Filing

View this SC 13G filing on SEC EDGAR